₦airaland Forum

Olaide1295:
No recent govt has done it because it’s politically unpopular, not because it is not the right thing to do.
Previous governments like Buhari & GEJ are now moneys you want this government to follow? Don’t you see the current rates are market reflective and let investors plan? A friend of mine used his connects and made over 1Billion doing currency arbitrage under Buhari. You want that to continue while hardworking Nigerians struggle for every naira?
Your other suggestions aren’t grounded in reality. If you discourage some imports, ppl will simply smuggle them in through Seme and Idi Iroko.

I am not even talking about Nigerian govts alone. All over Africa and developing countries, all the progressive govts. do gradual, piece-meal, phased devaluation in order to be able to manage the dislocations. There is no country that did what the man in Abuja did (reckless floating and subsidy removal that has been able to recover and achieve purchase power parity with the dollar, as the earlier OP mentioned. It will not happen.
With a weak industrial base, we need to incentivize local producers to produce more. I expected the govt to ban importation of some non-essential items to reduce the pressure on the naira, and then do a gradual, piecemeal management of the exchange rate to avoid the harsh effects of a reckless floatation.

oluwaleokey:
Gurus in the house please i need guidance regarding my insurance policy issue, i know this might not be the right thread however its still boils down to investment.

Five years ago, I subscribed to the Flex Edu Insurance Policy with First Bank Insurance for my daughter’s education, which was due to mature this year. Along the way, the policy management was moved to Sanlam Nigeria (a partner company, as I was informed). Despite the transition, everything seemed smooth until recently.

A few weeks before the maturity date, I contacted the company to confirm that all was in order. They responded promptly, acknowledged the upcoming maturity, and provided me with a statement of account. (Also note I had exchange several mails before and they responded swiftly)

Five days before maturity, I was forwarded a form & asked to complete a payment voucher for the full benefit. However, it has now been several weeks since maturity, and I am yet to receive any payment. To make matters worse, I even noticed an over-debit on my account, which I raised with the company, but my emails have since gone unanswered. I have sent multiple follow-ups to every contact I have, including those I previously engaged with, but there has been no response.

Currently, I can no longer access my account online, which raises even more concern. After diligently saving monthly for five years for my daughter’s education, I feel deeply frustrated and disappointed by this experience.

I kindly seek your advice on how best to call out these people?
How I can recover my funds after years of committed savings.

Is First Bank Insurance is still directly involved in this matter? and What formal steps I can take to escalate this issue if Sanlam Nigeria continues to be unresponsive

This situation feels unfair and distressing, and I would appreciate any support, guidance, or escalation channels you can provide to help resolve it.

I will appreciate every single help I could get on here
Thanks

For the record:
I followed some of the advice shared here, and honestly, it worked like magic. They are now reaching out to me. several calls, apologies, and even prompt responses to my emails from different quarters.

I can’t help but wonder what went wrong initially, but I’ll leave that to mystery. What matters is that I’ve now been assured I’ll be credited within 10 working days.

I’m tempted to commend their services, but I’ll hold off until the funds actually hit my account, since the process is still ongoing.

I just thought to update everyone here. Thank you all for the inputs, it were truly helpful.

Now, let me sit back with an iced Coca-Cola and some Gala while waiting for the funds.

mikeapollo:
So you mean a reckless decision for a necessity or a necessary decision done in recklessness?

If the guy no get action na Una go still complain

d

Joyful365:
Bank stocks are the worst form of stocks to hold. They'll keep diluting your shares till what you own is an infinitesimal part of their outstanding shares, at which point you'll practically get next to peanuts even if they declare billions in profit.

Banks ought to buy back a part of their circulating shares during periods of surplus, to create shareholders value, but they won't because they're part of the scam monetary system that feeds off printing money to render people poor. That's why banks print new shares to sell each time they're given new capital requirements.

If you are looking for capital appreciation, avoid most nigerian stocks that have outstanding shares of over 40 billion or more.

You're better off owning commercial papers, treasury bills and government bonds.

I think Stanbic IBTC bank did some share buy back several years ago, and that is apparently contributing to their equity returns and high share price.
Some of the other banks may do same if they deem their outstanding shares to be too large in size.

Joyful365:
Bank stocks are the worst form of stocks to hold. They'll keep diluting your shares till what you own is an infinitesimal part of their outstanding shares, at which point you'll practically get next to peanuts even if they declare billions in profit.

Banks ought to buy back a part of their circulating shares during periods of surplus, to create shareholders value, but they won't because they're part of the scam monetary system that feeds off printing money to render people poor. That's why banks print new shares to sell each time they're given new capital requirements.

If you are looking for capital appreciation, avoid most nigerian stocks that have outstanding shares of over 40 billion or more.

You're better off owning commercial papers, treasury bills and government bonds.

Hmmm really except
UBA 41B os
Zenith 41B os
Fidelity 50B os

Their EPS and dividend yield still makes sense with the os

Agbalowomeri:
If the guy no get action na Una go still complain

What kind of yeye ''action'' is that?
To stand on the podium at the swearing-in /inauguration ground and say ''subsidy is gone, whether you like it or not'';?
At a time when there was no cabinet, no minister, no policy, no data, no alternative fall back mechanism, nothing to cushion the effects on the masses?. Is that how ''action'' is taken?. Isn't that reckless?
So what is the result of the "action" now? Unprecedented hunger and hardship in the country! Is that the ''action'' he was installed to take?

oluwaleokey:
For the record:
I followed some of the advice shared here, and honestly, it worked like magic. They are now reaching out to me. several calls, apologies, and even prompt responses to my emails from different quarters.

I can’t help but wonder what went wrong initially, but I’ll leave that to mystery. What matters is that I’ve now been assured I’ll be credited within 10 working days.

I’m tempted to commend their services, but I’ll hold off until the funds actually hit my account, since the process is still ongoing.

I just thought to update everyone here. Thank you all for the inputs, it were truly helpful.

Now, let me sit back with an iced Coca-Cola and some Gala while waiting for the funds.

The Agbero method has never failed me in real life in Nigeria!

Those office workers(or white collar job workers) always respond to the Agbero behaviour in Nigeria.

I only apply the Agbero or Thug method only if the Gentleman method fails.

ogawisdom:
Hmmm really except
UBA 41B os
Zenith 41B os
Fidelity 50B os

Their EPS and dividend yield still makes sense with the os

Na hang over from yesterday party dey do am

mikeapollo:
What kind of yeye ''action'' is that?
To stand on the podium at the swearing-in /inauguration ground and say ''subsidy is gone, whether you like it or not'';?
At a time when there was no cabinet, no minister, no policy, no data, no alternative fall back mechanism, nothing to cushion the effects on the masses?. Is that how ''action'' is taken?. Isn't that reckless?
So what is the result of the "action" now? Unprecedented hunger and hardship in the country! Is that the ''action'' he was installed to take?

That is a bold and pragmatic leader.
Others had been too timid to take a seemingly difficult but necessary decisions.

PETERiCHY:
OANDO gearing up for a MEGA RALLY
WE did some TOP UP @t #50

BARGAIN HUNTERS TAKE NOTE!

I spotted the gathering momentum too. But still waiting for my signal to jump in. Make i follow you do bargain hunting small as the bargain hunter in chief wey you be😀

mikeapollo:
I think Stanbic IBTC bank did some share buy back several years ago, and that is apparently contributing to their equity returns and high share price.
Some of the other banks may do same if they deem their outstanding shares to be too large in size.

Stanbic is amongst the lowest with 15+ billion outstanding shares. The rest are running wild with their share issuance:

First bank - 41+ billion
Fcmb - 39+ billion with another 10 billion in the pipeline
UBA - 44+ billion
GTCO - 32+ billion
Access Bank - 53+ billion
Zenith - 41+ billion
Fidelity - 50+ billion

The only good thing about the banks with huge OS is that they're good for trading as they're highly liquid.

In terms of holding for capital appreciation, aside GTCO, you're better off looking elsewhere.

ogawisdom:
Hmmm really except
UBA 41B os
Zenith 41B os
Fidelity 50B os

Their EPS and dividend yield still makes sense with the os

Fidelity should have over 70billion OS when they recapitalise. Them go sweat to pay N1 dividend.

UBA should have about 44 billion OS after recapitalisation

pluto09:
That is a bold and pragmatic leader.
Others had been too timid to take a seemingly difficult but necessary decisions.

Bold? Pragmatic? My brother, thank God you are not too affected by such reckless actions!

Ironically, most reckless decisions may appear to be ''bold''. Many people actually take reckless actions for ''boldness''
For instance, a man that walks on the road when there is an oncoming vehicle moving at high speed may appear to be ''bold''. Until his actions leads to destruction of lives and property.
An armed robber has to be ''bold'' to commit atrocities that could lead to destruction of lives and property.
So I may agree with you. He is ''bold'' to be able to take reckless decisions that led to the destruction of lives, businesses, the economy and well being of millions of Nigerians.

For me, it is Fidelity that made the most movement within a 2 year period.

If you meniton GTB you should also mention Zenith in same breath since they have a very high correlation.

Joyful365:
Stanbic is amongst the lowest with 15+ billion outstanding shares. The rest are running wild with their share issuance:

First bank - 41+ billion
Fcmb - 39+ billion with another 10 billion in the pipeline
UBA - 44+ billion
GTCO - 32+ billion
Access Bank - 53+ billion
Zenith - 41+ billion
Fidelity - 50+ billion

The only good thing about the banks with huge OS is that they're good for trading as they're highly liquid.

In terms of holding for capital appreciation, aside GTCO, you're better off looking elsewhere.

ojesymsym:
For me, it is Fidelity that made the most movement within a 2 year period.

If you meniton GTB you should also mention Zenith in same breath since they have a very high correlation.

Most movement in the last two years should go to Wema.
But futurewise, one can gamble with Access despite the huge OS. Their current price is relatively a bargain

KarlTom:
@Awesomej

Like you rightly pointed out GEREGU resumed without the 10% drop...

I taya

pluto09:
That is a bold and pragmatic leader.
Others had been too timid to take a seemingly difficult but necessary decisions.

Please don't praise that wíckëd octogenarian who is more selfish than the devil and doesn't mind putting everyone into poverty as long as him and his cronies are well off.

He contributed to Nigeria's currency crisis by advising his fellow emptïhead to print more money in the aftermath of cøvîd 19.

He vehemently opposed subsidy removal when Nigeria had supplus revenue and savings and would have been able to better withstand the storm.

There's been zero reduction in cost governance and wasteful spending since he embarked on his poverty generating reforms. Instead its looking like all the savings from subsidy removal have been going into making life more comfortable for the rich and mighty political class.

Most Nigerians are still battling with extremely low purchasing power and that's because the old low iq man set the minimum wage very low compared to the cost of living wage. This is to keep more people in poverty to make them powerless and controllable. The attendant effect is that businesses engaged in production of goods and services will experience low patronage because people can barely survive with their income.

It's easy to praise him for favouring the rich and putting more people into poverty, but how can a society thrive with so many poor people around who must survive?

The insecurity you see today is partly caused by the poverty he's creating. No rich person in Nigeria can freely enjoy their wealth. They and their families will be targeted by criminals and kìdnæpērs, many of whom are poor people created by 11 years of bad political leadership of one party.

I'm happy that I am shielded from the wïckêdnès of Nigerian politicians and I am financially free, but I can never betray the poor in Nigeria because he put a policy in place that made me richer from the stock market boom.

The burden he created alongside the wealth is too heavy to bear.

ojesymsym:
For me, it is Fidelity that made the most movement within a 2 year period.

If you meniton GTB you should also mention Zenith in same breath since they have a very high correlation.

GTCO is better than Zenith in terms of financial performance. They're the only bank not caught in the forebearance trap that will make most of the top tier banks not pay dividend this year or very little. Zenith is also trying though.

[quote author=mikeapollo post=136578642]Bold? Pragmatic? My brother, thank God you are not too affected by such reckless actions!

Ironically, most reckless decisions may appear to be ''bold''. Many people actually take reckless actions for ''boldness''
For instance, a man that walks on the road when there is an oncoming vehicle moving at high speed may appear to be ''bold''. Until his actions leads to destruction of lives and property.
An armed robber has to be ''bold'' to commit atrocities that could lead to destruction of lives and property.
So I may agree with you. He is ''bold'' to be able to take reckless decisions that led to the destruction of lives, businesses, the economy and well being of millions of Nigerians.

[/quote

What do you mean I was not too affected.
I am in Nigeria but I knew anyone that took over from buhari would have it rough and would need to take some difficult decisions else the country would collapse
What in your opinion was a reckless action has actually saved the country from going deeper and deeper in a hole.
PBAT actually saved the country from Venezuela experience .

Joyful365:
Please don't praise that wíckëd octogenarian who is more selfish than the devil and doesn't mind putting everyone into poverty as long as him and his cronies are well off.

He contributed to Nigeria's currency crisis by advising his fellow emptïhead to print more money in the aftermath of cøvîd 19.

He vehemently opposed subsidy removal when Nigeria had supplus revenue and savings and would have been able to better withstand the storm.

There's been zero reduction in cost governance and wasteful spending since he embarked on his poverty generating reforms. Instead its looking like all the savings from subsidy removal have been going into making life more comfortable for the rich and mighty political class.

Most Nigerians are still battling with extremely low purchasing power and that's because the old low iq man set the minimum wage very low compared to the cost of living wage. This is to keep more people in poverty to make them powerless and controllable. The attendant effect is that businesses engaged in production of goods and services will experience low patronage because people can barely survive with their income.

It's easy to praise him for favouring the rich and putting more people into poverty, but how can a society thrive with so many poor people around who must survive?

The insecurity you see today is partly caused by the poverty he's creating. No rich person in Nigeria can freely enjoy their wealth. They and their families will be targeted by criminals and kìdnæpērs, many of whom are poor people created by 11 years of bad political leadership of one party.

I'm happy that I am shielded from the wïckêdnès of Nigerian politicians and I am financially free, but I can never betray the poor in Nigeria because he put a policy in place that made me richer from the stock market boom.

The burden he created alongside the wealth is too heavy to bear.

I have my problems with PBAT and there are many things I want him to do that he has not done right.
However,on the issue of subsidy and floating of the currency, I give it to him, that is how I want my president to act.

Streetinvestor2:
God bless u for seeing a shovel and not calling it a working tool.Nigerians have never had it this bad if u dey street. The hunger and poverty on the street no be here.The government is busy borrowing and looting via bloated and not needed infrastructure at this period

Some people don't know how bad the situation is and how wasteful he has been. For example, if you have a company located in Ogun state, it's extremely difficult and expensive to transport your goods to south south and south east Nigeria because 80% of the federal roads in the region is a total write-off. Companies are losing billions daily due to poor condition of existing roads and the criminality going on.

When your goods finally arrive, nobody is buoyant enough to buy because people's income are very low compared to cost of living. You can work as a bank teller for 25 years and you'll not be able to buy a car or build a house in Nigeria because of the low wages. Is it hungry people that will put their money in the stock market?

The 15 trillion for coastal road could have been used to declare emergency on existing federal roads to reduce distribution costs for business. Trim down the cabinet to maximum of 36 members with only one aide each instead of 52 members plus 10 or more aides each. The savings from a trimmed cabinet would be enough to settle power sector debt and reform the sector for measurable efficient service delivery to reduce cost of production in Nigeria. Then he could have declared emergency in the agricultural sector alongside the security sector to increase food production instead of opening border to flood Nigeria with substandard gmö laced food from outside the country after pushing everyone into poverty. All the billions being spent to renovate conference centre and airport would have been better channeled to build and equip more hospitals and education facilities and pay doctors and lecturers well while keeping cost of education low for citizens.

All of the above combined would have improved the welfare of Nigerians despite subsidy removal, especially if he implements them with ZERO tolerance for corruption.

Now measure what he's been doing and the results he's getting against the suggestion of a nobody like me who doesn't have the so-called sophisticated experience he has and judge for yourself if he's been doing things right or wrong.

I am not impressed by whatever policies he's pursuing as long as they don't translate to improved welfare for the poor and now nonexistent middle class of Nigeria.

If he continues in this direction, it won't take long for everything to come crashing down because you don't build prosperity on sinking sand and expect it to stand strong.

pluto09:
I have my problems with PBAT and there are many things I want him to do that he has not done right.
However,on the issue of subsidy and floating of the currency, I give it to him, that is how I want my president to act.

Removing subsidy and floating the naira is like parking your property out of a house that is about to be swept away by flood or where the landlord has removed the roof.

If you park out into the street, does it end there?

If you are hungry and you decide to put two hungry man size indomie and two eggs ontop your gas burner to cook so you can eat and quench your hunger, will you put it on the gas and forget it there?

In both scenarios, you'll get a disastrous outcome if you don't monitor your property or what you are cooking.

Removing subsidy and floating the naira is not a bad idea.

Okay.

What about wasteful spending on renovation and coastal road?
What about bloated cabinet for political patronage?
What about increased education fees?
What about low minimum wage?
What about increased electricity tariff?
What about increased taxation?
What about reduced taxation for the rich who have businesses?
What about the corruption still going on?

You remove subsidy and float the currency but you leave all the aforementioned problems in place and you expect the country to move forward.

Really?

A summary of today's trading session on the NGX.


https://www.youtube.com/watch?v=30MhxIT-Oho

Hello house,

Please i subscribed to the wema right issues from the ngx investment website.

Up till now, it's yet to reflect on my CSCS account, please i will like to confirm how long does it takes for the shares to reflect.

rarry:
Hello house,

Please i subscribed to the wema right issues from the ngx investment website.

Up till now, it's yet to reflect on my CSCS account, please i will like to confirm how long does it takes for the shares to reflect.

Allotment is yet to be done. Just be patient.
No specific timeline, it depends on many factors, most of them beyond the issuer or the company.

This delay is a major downside of offers, hence many traders and some investors prefer the secondary market since you get your holdings immediately you buy.

Joyful365:
Removing subsidy and floating the naira is like parking your property out of a house that is about to be swept away by flood or where the landlord has removed the roof.

If you park out into the street, does it end there?

If you are hungry and you decide to put two hungry man size indomie and two eggs ontop your gas burner to cook so you can eat and quench your hunger, will you put it on the gas and forget it there?

In both scenarios, you'll get a disastrous outcome if you don't monitor your property or what you are cooking.

Removing subsidy and floating the naira is not a bad idea.

Okay.

What about wasteful spending on renovation and coastal road?
What about bloated cabinet for political patronage?
What about increased education fees?
What about low minimum wage?
What about increased electricity tariff?
What about increased taxation?
What about reduced taxation for the rich who have businesses?
What about the corruption still going on?

You remove subsidy and float the currency but you leave all the aforementioned problems in place and you expect the country to move forward.

Really?

JAGABAN should help the common man in the street sha

Mpeace:
Fidelity should have over 70billion OS when they recapitalise. Them go sweat to pay N1 dividend.

UBA should have about 44 billion OS after recapitalisation

70B is alot for fidelity hmmm well I hope they can still pay at least ₦2 sth dividend like last time or sth close to it. Otherwise their share price may not go up much. They did not move in this bull market and they should know that any drastic reduction in dividend will dip their share price well

Agbalowomeri:
If the guy no get action na Una go still complain

But na common man dey suffer am

[quote author=pluto09 post=136579347][/quote]He saved nothing. U are saying this because u are making money here.
This government has made life unbearable to families. What is the use of reform that don't have human face. What ever yeye reform no matter how good that is covered in corruption will produce bad results. Are u not seeing how bloated the unnecessary projects are being given out.Is the government spending under the present leadership like a country that was broke when they took over.
What really has the government saved nigeria from as the country is today .Have u been to hospital or pharmacy and realised that people are dying like flies because they can't afford hospital/drug bills. They are now resulting to traditional medicines which is causing all kind of kidney failures